The increase in US interest rates is still not constrained, causing the dollar index (DXY) to remain strongโthis usually puts pressure on gold prices.
Inflation and spending data (PCE) as well as hints from Fed Chair Powell are currently the main focus of the market.
2. Technical Analysis
According to FXStreet, gold prices have struggled to break the US$3,400 level, and the potential for a downward movement is still possible.
3. Price Predictions for Next Week
TradersUnion estimates this week's range to be between US$3,324โUS$3,404, with an average of US$3,364.
CoinCodex suggests a moderate increase (~0.7%โ1%) in the next 5โ7 days, reaching around US$3,382.
4. External Factor Risks
Geopolitical developments (Israel-Iran conflict or global tensions) could support safe-haven flows into gold.
Conversely, if US economic data is strong, the dollar strengthens, and bond yields rise, the potential for price pressure on gold increases.
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๐ Weekly Summary
Aspect Pro Con
Short-Term Trend Slight upward prediction (0.7โ1%) based on CoinCodex & TU Correction potential if the dollar strengthens and US data improves Market Sentiment Buying interest is waning, RSI neutral-medium, some bullish technical indicators Failed to break US$3,400 โ downward pressure still exists
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โณ Next Week's Forecast
Slight upward possibility: if inflation data (PCE, GDP) disappoints and the Washington Federal Reserve shows a dovish stance, prices could rise by about 1%, to the range of US$3,350โ3,380.
Downward possibility: if the dollar continues to strengthen and US economic data is solid, gold could correct to US$3,300โ3,320.
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๐ก Monitoring Recommendations
PCE & GDP/Jobless Claims Data (US) โ this could influence price direction.
Strengthening or weakening of DXY โ greatly affects XAU/USD.
Geopolitical sentiment โ topics like Middle East tensions can boost safe-haven demand.
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Conclusion: Overall, XAU/USD is expected to move fluctuatively with a moderate upward bias (0.7โ1%) next week, but there are still many risks that could lead to corrections.
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